Where Will Nvidia Stock Be in 1 Year?
Following the 2022 launch of OpenAI's ChatGPT, generative artificial intelligence (AI) has taken Wall Street by storm. Few companies have benefited more than Nvidia (NASDAQ: NVDA) -- the chipmaker that creates the hardware needed to make this new technology possible. An explosive second-quarter earnings report suggests its boom is far from over.
Nvidia's revenue soared 122% year over year to $30 billion, compared to analysts' expectations of $28.7 billion. Growth was driven by demand for advanced graphics processing units (GPUs) like the H200, which helps train and run AI algorithms. The company's bottom line also remains buoyant, with net income soaring 168% to $16.6 billion.
How much longer can Nvidia's rally continue? Let's dig deeper into what the next 12 months may have in store for this technology leader.
Source Fool.com
